Here is a quick recap of trades that we initiated, closed, or debated in the week that was Aug 24h – Aug 28th:
We had a pretty quiet week as I was away on vacation. I will be back Tuesday afternoon, and back in the saddle Wednesday morning.
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Monday Aug 24th:
Update: Sold to close GOOGL (639) Sept 700/650/600 put fly at 16.00 for a $4.00 profit
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Name That Trade – $S, Marathon or Sprint
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Tuesday Aug 25th:
MorningWord 8/25/15: Blind Faith in Your Leaders… Will Get You Killed – $AAPL
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Name That Trade – $SBUX: Caffeine Withdrawal
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Wednesday Aug 26th:
Name That Trade – $NKE Outlet
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Options Education – Volatility ETFs: $XIV and $VXX
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Thursday Aug 27th:
New Trade – Barb a $QQQ
Trade: Bought to open the QQQ ($105) October 105/92 put spread for 3.00
Last weeks volatility gave us the opportunity to take off a long put spread in Sept (actually on Friday the 21st) and put on another put spread in Oct after the sharp sell off and the subsequent bounce into the end of the week.
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Update: Sold to close the XRT ($92.50) Sept 100 / 95 / 90 Put Fly at 1.55 for a .20 loss
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Name That Trade – Lux on, $LXFT
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Friday Aug 28th:
MorningWord 8/28/15: Home on the New Range – $SPX, $QQQ
The selloff means we now have another range to trade against. Just as we did from February to last week,only this time the volatility bands are massively wider. Prior support now becomes technical resistance at 2050 (red line) and the prior low of 1865ish should be I spot to shoot for on the downside. If it goes through there all bets are off:
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Name That Trade – $LAD: Yeah, but that TrueCoat
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